(Bloomberg) --A rare thing is about to happen in the $55 billion market for catastrophe bonds: a trigger event will wipe out 100$150 million cat bond has been the subject of controversy since it failed to trigger last year after Hurricane Beryl destroyed large parts of the island. The development sparked calls for a fundamental rethink of the suitability of such financial instruments for developing countries on the frontlines of climate change.  Investors in cat bonds are ...